ISLAMABAD: The current exchange rate for the US Dollar is at Rs282.50, as the interbank rate experienced a significant rise of Rs1.03 today.
According to a report from currency dealers, on the third business day of the week, the interbank rate for the US Dollar increased by Rs1.03, bringing the exchange rate to Rs282.50.
In the past week, the interbank rate for the US Dollar saw an overall increase of Rs1.19.
According to data from the State Bank, the previous day witnessed a 52 Paisas increase in the value of the Dollar in the interbank market.
In addition, the Exchange Companies Association of Pakistan (ECAP) reported a 50 Paisas increase in the Dollar’s price in the open market.
Saudi Mega Company WAFI Energy Buys Shell Pakistan: It Is A Big News In Oil Sector
Meanwhile, Saudi mega oil company WAFI Energy has acquired Shell Pakistan. In a notice sent to Pakistan Stock Exchange, Shell Petroleum said it has entered into an agreement with WAFI Energy to sell its 77.42% majority stake in Shell Pakistan Limited.
This seems to be a mega acquisition in energy sector in Pakistan in 2023. WAFI Energy has also published this breaking news on its official website today.
This divestment aligns with Shell’s strategy to enhance its mobility network and was initially disclosed during Capital Markets Day in June 202.
The transaction is anticipated to be finalized in the fourth quarter of 2024, pending regulatory approvals.
Following the completion of the sale, the Shell brand will continue to be present in Pakistan through brand licensing agreements, ensuring that customers will still have access to Shell’s premium fuel and lubricant offerings.
Shell Petroleum Company Limited remains dedicated to maintaining safe and reliable operations.
Shell Pakistan made an official announcement to the Pakistan Stock Exchange (PSX) on Tuesday, revealing a significant development.
